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Wealth News

Number of billionaires worldwide jumps 10%: study

Geneva - The number of billionaires worldwide rose above 1,500 last year, a 10 percent jump from 2015, due largely to a surge in Asia, Swiss banking giant UBS and auditors PwC said Thursday.

Evergrande boss is wealthiest as China's rich get richer

Shanghai - The net worth of China's ultra-rich surged this year with Evergrande real estate mogul Xu Jiayin's $43 billion fortune catapulting him to the top, a survey released Thursday said.

Marcos kin offer gold, assets to Philippines: Duterte

Manila - Philippine President Rodrigo Duterte said Tuesday the heirs of late dictator Ferdinand Marcos had offered to return to the government some of the family's disputed wealth, including "a few gold bars".

Microsoft's Steve Ballmer wants his wealth to help U.S. families

Business Insider met with Ballmer at the Code Conference in Los Angeles to talk about his favorite philanthropy projects. He was all smiles, relaxed, and happy to talk.

Ukraine leader's wealth grows despite war, economic woes

Kiev - The value of Ukrainian President Petro Poroshenko's assets soared despite economic crisis and conflict while those of other tycoons shrank in an annual wealth list published Friday.

Asia's millionaires to become 'world's richest group'

Singapore - Asia Pacific millionaires are set to become the world's richest this year, a report said Wednesday, driven largely by wealthy individuals in India and China.The combined wealth of Asia Pacific's super rich will surpass its 2014 total of $15.

Iran leader criticises rich kids after deadly car crashes

Tehran - Iran's supreme leader Ayatollah Ali Khamenei criticised fast-driving wealthy youngsters Sunday for creating "psychological insecurity" on the streets after two high-speed accidents killed five people.

Apple CEO Tim Cook plans to donate his wealth to charity

Apple CEO Tim Cook has said that he plans to give much of his vast fortune away to charity in the near future, joining a list of tech executives including Bill Gates and Mark Zuckerberg who enjoy sharing their wealth with others.

New reports suggest that the rich are getting richer

According to recent data and news reports, it’s true that the rich are getting richer. While that revelation may not surprise many, the reason why could.

Census finds that billionaires are hoarding their wealth

The Billionaire Census conducted by Wealth-X and UBS has concluded that the world’s richest people are keeping their money in cash, rather than investing it.

Jack Ma of Alibaba becomes China's richest person

Shanghai - The largest stock offer in history has made Jack Ma, founder of e-commerce giant Alibaba, China's richest person with a fortune of $25 billion, an annual wealth ranking in the world's second largest economy showed Tuesday.

Money management expert Bruce Sellery offers tips on finance Special

Digital Journal's interview with finance expert Bruce Sellery, conducted over Twitter, shed light on tips and advice for anyone looking to better manage their money.

Op-Ed: The real wealth of nations is the health of nations

Hazel Henderson is a self-described political economist and writer whose work has been translated into 27 languages. Since the 1960s she has been an international consultant on issues related to the environment and social development.

U.S. household wealth above $80 trillion; boosted by stocks, housing

U.S. household net worth jumped to a new high at the end of last year, as the value of real estate and shareholdings rose and bank accounts swelled.

'Secretive' Chinese woman named world's youngest billionaire

Hong Kong - A 24-year-old Hong Kong-based woman has been named the world's youngest billionaire, replacing a Facebook co-founder and spurring gossip in the city.Perenna Kei, a graduate from the University of London who lives in Hong Kong, was ranked by Forbes as t...

Microsoft's Gates reclaims title as world's richest

Washington - The surging price of Microsoft shares returned US tech tycoon Bill Gates back to the top of Forbes's world's billionaires list, with his $76 billion beating out Mexico's Carlos Slim's $72 billion.The annual list, released Monday, counted 1,645 men and ...

Billionaire boom for Asia: Chinese survey

Beijing - Asia experienced a billionaire boom last year, with more than 200 people from the continent seeing their net worth pass into 10 figures, a Chinese publisher said Tuesday.A total of 824 Asians were included among the 1,867 people named as dollar billion...

As discontent grows, Singapore budget to tighten noose on the rich

Singapore is known as a tropical refuge for the world's wealthy, endowed with exclusive residential enclaves, a marina for super-yachts, two casinos and an annual Formula One race that brings in the gl...

China issues rules to limit bond investment by shadow bank products

China's central bank published rules on Thursday governing investment by wealth management products (WMPs) in the country's bond market, in a move aimed at containing risks posed by ban...

Study: Coming into money suddenly makes you more right-wing

A new study says that suddenly accumulating a lot of money (in the study's case, winning the lottery) leads to an increase in conservatism.

British banker in Singapore infuriates nation after mocking poor

Singapore - A British wealth manager living in Singapore is facing death threats, government criticism and anger among its citizens, after his Facebook posts about mixing with "poor people" on public transport and being reunited with his beloved Porsche went viral.

China leaders' kin 'stash riches in offshore tax havens'

Beijing - Relatives of top Chinese leaders including President Xi Jinping and former premier Wen Jiabao have used offshore tax havens to hide their wealth, according to a mammoth investigation released on Wednesday.

Richest 1% hold 46% of the world's wealth

We are living through tough economic times but is that really true? News that global wealth has risen by 68 percent over the past 10 years to reach a new all-time high of $241 trillion certainly paints a different picture.

Bill Gates passes Mexico's Carlos Slim as world's richest man

For 20 straight years Microsoft co-founder Bill Gates has been the richest man in America and at moments, the world's wealthiest man. He has now again surpassed telecom billionaire Carlos Slim to become the richest person on the planet.

Why are Alzheimer's rates higher in wealthy countries?

People living in 'wealthy' countries appear more likely to develop Alzheimer's disease due to greatly reduced contact with bacteria, viruses and other microorganisms. This leads to them having weaker immune systems.

UK garbage industry is worth $4.5 billion

London - One man’s waste is another man’s gold. According to a report by a British government agency the country’s garbage disposal is potentially worth over $4.5 billion.

Poll finds 6 in 10 Americans want wealth redistribution

Only 33 percent of Americans surveyed in a new poll think the current distribution of wealth in the United States is fair. Around 52 percent think it should be redistributed and 45 percent disagree.

Minimum standard of living beyond majority

Increasing numbers of British people have insufficient income to meet minimum requirements to participate in society, claims new study.

Facebook IPO makes U2's Bono the richest musician in the world?

London - Reports suggest that thanks to Facebook, U2's frontman Bono has overtaken former Beatles Paul McCartney in accumulated wealth to make him the richest musician in the world.

Op-Ed: NYC Dept of Education wants to ban upsetting words such as wealth

New York - The NYC Dept. of Education has truly lost its marbles. In an attempt to shield students from anything unpleasant it is proposing to ban 50 words from standardized tests. Words they intend to ban include disasters, religion, and homes with swimming pools.
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